Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN: 9781285165875
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Question
Chapter 10, Problem 1QR
To determine
Examples of externality.
Expert Solution & Answer
Explanation of Solution
The classic example of an externality is pollution. The production of goods emits pollutants in the environment, which lead to different kinds of pollution like air pollution water pollution, and so forth. These pollutions cause health problems for people who live near the production area. The examples of positive externality are restoration of historical buildings, facts that lead to the formation of new research and education, and so forth.
Economics Concept Introduction
Concept introduction:
Externality: Externality refers to the spillover of benefits or costs to a third party other than the immediate market participants.
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Chapter 10 Solutions
Principles of Economics, 7th Edition (MindTap Course List)
Ch. 10.1 - Prob. 1QQCh. 10.2 - Prob. 2QQCh. 10.3 - Prob. 3QQCh. 10 - Prob. 1QRCh. 10 - Prob. 2QRCh. 10 - Prob. 3QRCh. 10 - Prob. 4QRCh. 10 - Prob. 5QRCh. 10 - Prob. 6QRCh. 10 - Prob. 1QCMC
Ch. 10 - Prob. 2QCMCCh. 10 - Prob. 3QCMCCh. 10 - Prob. 4QCMCCh. 10 - Prob. 5QCMCCh. 10 - Prob. 6QCMCCh. 10 - Prob. 1PACh. 10 - Prob. 2PACh. 10 - Prob. 3PACh. 10 - Greater consumption of alcohol leads to more motor...Ch. 10 - Prob. 5PACh. 10 - The many identical residents of Whoville love...Ch. 10 - Prob. 7PACh. 10 - Prob. 8PACh. 10 - Prob. 9PACh. 10 - Prob. 10PA
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